FASING SA (FSG) Fair Value & Analysis

Industrials · PL · Market cap 43.2M PLN (≈ $11.6M) · ISIN PLFSING00010

What is FASING SA really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

• The price is below even our cautious bear case (32.28 PLN). The market is more pessimistic than our downside scenario.
• Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
• A fairly wide model range (32.28 PLN to 59.95 PLN) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 6, 2026.

How to read this chart

60‑month range 10.01 PLN – 16.43 PLN · fair‑value band 32.28 PLN – 59.95 PLN · the 14.70 PLN price screens below the 46.12 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 6, 2026.

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Analysis

FASING SA (FSG) currently trades at 14.70 PLN, while our model-based Fair Value estimate is 46.12 PLN, implying the stock looks roughly 68.1% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of 50.13 PLN per share, and 15 of the 17 models we run sit above the 14.70 PLN price. Bear case: the Earnings-Based group reads lowest at 18.57 PLN, and 2 of the 17 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, FASING SA generated revenue of 292M PLN at a net margin of 2.5%. Revenue grew 43.0% year over year. It earns a return on equity of 4.1%. Net debt stands at 65.1M PLN. Fundamentals as of Sep 6, 2026

Our scenario range runs from 32.28 PLN (bear case) to 59.95 PLN (bull case); at 14.70 PLN, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at 214%, FSG screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 1.36 PLN per share, which is 3.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Widest divergence: Multiples (50.13 PLN) versus Dividend Discount (3.29 PLN). Highest evidence: Owner Earnings (77).

Key figures & financial health

Quality Score breakdown

About the company

Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. produces and sells chains for the mining, fishing, energy, sugar, cement, and wood industries worldwide.

Full company description

Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. produces and sells chains for the mining, fishing, energy, sugar, cement, and wood industries worldwide. The company provides round mining link chains, flat mining link chains, chain routes, scrapers, cards, locks, and clamps, hoist chains, connector links, abrasion-resistant round chains, technical chains and accessories, fishing chains, and sling chains with short links. It also offers die forgings and forging tools, clutches, drills, anchors, hydraulic units, stands and others. The company exports its products to China, the United States, Australia, Russia, Germany, Sweden, Kazakhstan, Ukraine, and Belarus. Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. was founded in 1925 and is headquartered in Katowice, Poland. Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. is a subsidiary of Karbon 2 Sp. z o.o.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FASING SA reported revenue of 292M PLN in FY2025 versus 204M PLN in FY2021, a compound +9.5%/yr. Reported net income was 7.4M PLN in FY2025, compounding +11.7%/yr from FY2021.

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Peer Group

Metal Fabrication · 249 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Metal Fabrication median · lower = cheaper

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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